THE BANKING REGULATION ACT‚ 1949 (Act No. 10 of 1949) [10th March‚ 1949] PREAMBLE PART I: PRELIMINARY Sections 1. 2. 3 4. 5. 5A. Short title‚ extent and commencement Application of other laws not barred Act to apply to co-operative societies in certain cases. Power to suspend operation of Act Interpretation Act to override memorandum‚ articles‚ etc. PART II: BUSINESS OF BANIKNG COMPANIES 6. 7. 8. 9. 10. 10A. 10B 10BB Forms of business in which banking companies may engage Use of words "bank"‚
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TOPIC 1: ACCOUNTING BASES‚ POLICIES‚ AND CONCEPTS ACCOUNTING BASES - These are the methods used for applying fundamental accounting concepts to financial transactions and items‚ preparing financial accounts‚ determining the accounting periods in which revenue and costs should be recognized in the profit and loss account‚ and determining the amounts at which material items should be stated in the balance sheet. - Examples of accounting bases include: Methods of calculating depreciation Methods
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Chapter one Business Law Law is a set of rules‚ enforceable by the courts‚ which regulate the government of the state and governs the relationship between the state and its citizens and between one citizen and another. There are various ways in which the law may be classified; the most important are: * Public and private law * A) Public law is concerned with the relationship between the state and its citizens. Specialised areas are: 1. Constitutional law is concerned with the workings
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Risk Exam 1 Study Guide Topic 1 Module 1 Risk Noun- A situation involving exposure to danger Verb- Expose (something or someone valued) to danger‚ harm‚ or loss Uncertainty Having 2 or more potential outcomes for an event or situation Risk Uncertainty about a future outcome‚ particularly the consequences of a negative outcome Outcomes may vary from the expected Situation of Driving Under the Influence of Alcohol Possible Outcomes (uncertainty): Not caught driving (Expected) Caught (DUI…
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A Ratio Analysis Report on Chevron Corporation By Brandon Dickerson Q1. When did the company begin operating and where are its major locations? Chevron Corporation is based in San Ramon‚ California‚ but has offices and does business in over a 100 countries. Their roots are traced back to an oil discovery at Pico Canyon‚ Ca in 1879 that led to the formation of Pacific Coast Oil Co. The company later became Standard Oil Co. of California and adopted the name Chevron in 1984 when it merged
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Contemporary Issue on Microsoft & Netflix Companies often buy back their own shares. There are several reasons to take such step that is to increase earnings per share‚ return on equity‚ to avoid takeover attempts‚ or to reduce the number of shareholders and so on. Some publicly held corporations purchase all their outstanding shares with the procedure of leverage buyout (LBO) and choose to go private. Recently‚ this LBO procedure is adopted by dell with the help of Microsoft contribution of 2
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Consumer Protection Dealing with government regulation in business is an integral part of a manager’s responsibilities. Recognizing what actions might violate particular consumer protection regulations is crucial to protecting the company and to insuring its profitable operation. Government regulation is found every day in the operation of businesses large and small‚ and once understood‚ it allows managers to make good decisions regarding business practices. When you have completed this topic
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which he was the main shareholder. He loaned the company money which he secured with the assets of the company. He observed the tenets of company law at all times. He was also the main shareholder and further to that the main creditor due to the loan. The question in this case was whether Mr. Salomon debts should take precedence over the unsecured creditors when the company was wound up. If Mr. Salomon won the case‚ the creditor would receive no money. In the High Court‚ Mr. Salomon lost the case
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........................................................................ 487 A. Contract Creditors of Public Corporations....................................................... 488 B. Tort Creditors of Public Corporations .............................................................. 494 C. Contract Creditors of Close Corporations........................................................ 500 D. Tort Creditors of Close Corporations............................................................... 503 IV
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wife Puan Hashimah‚ as the controlling directors and two principal shareholders. The company activities had expanded into provision of engineering services as part of their business diversification and expansions plan. In May 2006‚ the company had secured a contract worth RM750‚000 to be implemented over 6 months. Due to shortage of fund‚ company need to apply loan from Malayan Banking Berhad and CIMB Berhad totalling RM 1 million. In order to get the loan‚ they had to provide audited financial
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